Record exports help reduce trade deficit in fiscal year 2010

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Weekly Updates - Traders' Diary

ISLAMABAD : Pakistan exports grew by $19.382 billion during 2009-10, up by 10 percent over $17.688 billion for the same period of last year, according to Federal Bureau of Statistics (FBS). Official figures released by the FBS on Wednesday showed that the exports surpassed the target set for the last year by around one billion dollars. The trade deficit in 2009-10 was $15.32, 10.54 percent less as compared to $17.13 billion over the same period of last year.

A slight 0.32 percent decline was also witnessed in imports which declined to $34.70 billion in 2009-10 from $34.82 billion in 2008-09. Analysis of the data also revealed that for the month of June 2010 the country s exports recorded a 19.54 percent increase. The exports in June 2010 stood at $1.81 billion against $1.52 billion exports for June 2009.The imports in June 2010 witnessed a decline of 3.45 percent to $3.22 billion as compared to $3.33 billion imports for the same month of last year, June 2009. As a result the
trade deficit decreased by 22.69 percent in the month of June 2010 to $1.40 billion.The analysis of the data of June 2010 over previous month showed an increase of 3.75 percent in exports in June 2010 over May 2010. Exports in June increased to $1.819 billion compared to $1.753 billion for May whereas imports declined by 4.14 percent during the period. The imports have decreased in June 2010 to $3.22 billion compared to $3.363 billion for the month of May 2010. As a result, the trade deficit of $1.404 billion in June was 12.73 percent less compared to $1.609 billion for May 2010.

 

Courtesy: Business Recorder

 


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